Bitcoin ‘s 40% Surge didn’t Come Out of Nowhere

On Thursday, we showed you how Elliott Wave analysis set the stage for a Bitcoin plunge to under $7700 ten days before Mark Zuckerberg’s Libra testimony. The cryptocurrency was barely holding above $7400 at the time of writing and many thought it was prone to decline even further. Since Bitcoin is among our premium instruments,…

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BTCUSD: Libra Testimony Didn’t Cause the Fall

Facebook’s Mark Zuckerberg testified before Congress on October 23rd about the company’s Libra cryptocurrency project. The hearing didn’t go as smooth as the crypto community hoped, which reflected on the price of digital assets such as Bitcoin. At one point on Wednesday, BTCUSD was down by over $750 for the day. But was Zuckerberg’s Libra…

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The Bears Rule Over Ethereum Under $225

We last wrote about Ethereum on August 9th. The second largest cryptocurrency had plunged by 42% in less than two months and was hovering around $210. Unfortunately, our Elliott Wave analysis of the decline from $363 pointed to more weakness ahead. See the chart below to refresh your memory. This chart was included in our…

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Staying Two Weeks Ahead of Bitcoin ‘s Crash to $8000

The price of Bitcoin has been slowly losing ground since late-June when it touched $13 880. The bulls have been relying on the support near $9000 for over two months. They no longer have that luxury. BTCUSD was still gravitating around $10 000 on September 23rd. The next day, it plunged to $7998. While the…

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Bitcoin Fulfills Yesterday’s Bearish Elliott Wave Setup

The price of Bitcoin plunged sharply on Wednesday and keeps falling early Thursday. BTCUSD reached an intraday high of $10 280, before crashing to as low as $9555 yesterday. Today, the bears are still in charge and managed to drag the price to $9320 so far. To sum it up, Bitcoin lost almost $1000 per…

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Litecoin Lost 50% in Two Months. Is the Pain Over?

Litecoin, the fifth largest cryptocurrency, lost more than half of its market value in the past two months. Between June 22nd and August 21st, LTCUSD fell from $146 to $70. Since crypto assets have no intrinsic value, investors often compare the current price to its higher level some time ago. This leads them to the…

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Ethereum Made a Decision the Bulls Won’t Like

A month and a half ago, Ethereum was hovering in the vicinity of $340 a coin. The bulls seemed unstoppable after lifting the price by over 320% in six months. Unfortunately, an invisible threat was brewing under the surface. Instead of simply extrapolating the recent uptrend into the future, we thought it appropriate to take…

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How Bitcoin Almost Collapsed Last Month

The price of Bitcoin returned above the $12 000 mark two days ago. As of this writing, the biggest cryptocurrency is still trading in the vicinity of $12k and the larger uptrend appears to be still in progress. Less than two weeks ago, things were not looking so rosy. BTCUSD was hovering around $9500 in…

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Ethereum Price to Face an Important Decision Soon

Bitcoin has been unstoppable in 2019 and the old “to the moon” chatter is getting louder and louder once again. Ethereum – the second biggest cryptocurrency – has been delivering generous returns since the start of the year, as well. ETHUSD, currently hovering around $343, is up 325% from its December 2018 low of $80.90.…

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Overbought TRON Can Tumble 30% Against Dollar

TRON became the 7th largest cryptocurrency by market cap following a 135% surge in the last month. It surpassed Litecoin and Stellar on its way up and is now within a striking distance of Tether in the sixth place. TRXUSD’s recent performance can easily convince investors it is time to join the bulls. The problem…

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Bitcoin Proves Traders Can Prepare without “Knowing”

The price of Bitcoin slightly breached the psychological level of $3500 yesterday and still has not been able to escape its gravity as of this writing. The current selloff brought back the memories of the time when BTCUSD fell to $3122 a month ago. And while in the markets everyone is an expert in retrospect,…

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Here is Why BTCUSD is Down 40% in Less than a Month

The price of Bitcoin is declining at an unprecedented speed. Less than a month ago, BTCUSD was hovering above $5500. Last week it fell to as low as $3210, prompting Peter Mallouk, chief investment officer at Creative Planning Inc., to call Bitcoin a “dead man walking”. However, the truth is it didn’t take a professional money manager…

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Bitcoin Was Going “to the Moon”… And Then It Wasn’t

What a difference a year can make. This time last year Bitcoin was thought to be going “to the moon” by a great majority of people. BTCUSD was approaching the $20 000 mark at the time and financial gurus, hedge fund managers, celebrities and small individual investors alike were rushing to join the bulls. Many…

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Bitcoin Selloff Crushes Bulls’ Faith in $6k Support

The last several months have been unusually quiet for the price of Bitcoin. The largest cryptocurrency first touched the support area near $6000 in February and has been testing it multiple times since. This support looked so strong for so long that traders and investors started believing BTCUSD was getting ready for the next major…

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Elliott Wave Ahead of Bitcoin ‘s Goldman-Inspired Crash

Bitcoin was trading above $7400 on Wednesday morning, following a recovery from as low as $5880. Crypto investors hoped the rally will continue, but they could not predict that just a few hours later Goldman Sachs will say it is abandoning its plans to establish a cryptocurrency trading desk, citing the ambiguous regulatory environment as…

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